GileadCollage

Developers and builders! 3 lots and 4.419 acres in the heart of Keller! There is a house currently sitting on one of the lots that could be knocked down or updated. The home is a three bedroom, two bath home with two living areas.

 

Acreage includes barn, storage building, and fenced in backyard with house. There are 3 lots: (Parcel ID 03725286-A29-13a, Parcel ID 06131247-13a03, Parcel ID 06131255-13a04). All 3 lots will be sold as one property.

 

Property is zoned SF-36 and could be divided to create more lots. A road would need to be brought in along with 550′ of sewer pipe from the church down the street

From Civil Engineer – *Ballpark figures only*
Assumption 500ft from Mt. Gilead to end of cul-de-sac

  • Street $40k
  • Water Main, FH’s and services $30k
  • Sanitary On-Site $25k
  • Sanitary Off-Site $25k
  • Design & Permit $20k

Total ~ $140k

 

The investment side of the deal

$890k Asking Price

+140k development cost

-$375k to sell Subdivided Existing House

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Result – 4 Ready to Build Lots for $655k or $164k/lot

Median Sales Price for Lots between 0.5 Acres to 1.2 Acres in Keller is $250k for 0.832 acres from Sept 2019-Sept 2020

Net Equity – $345k (33%)

 

If you wanted to build on the lots as well a 3,000sqft home should bring $600k+ depending on build via recent comps.

 

Additional Documents

View Pictures of the Home here

View Information Packet

View Surveys

View Land Comps

View Keller SF-36 Code

 

For additional inquiries please click the contact button at the top of the page.

 

Tom Jung is a realtor with Keller Williams. He is a Fightin’ Texas Aggie class of 2009, graduating with a Bachelors degree in Computer Engineering. His unique background makes online marketing a breeze and for that reason specializes in selling homes for more.
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